So you decided to rent out your home in Atlanta? Congratulations! Owning rental property is one of the best investments you can make. However, as any rental property owner will tell you, owning property is a lot of work and comes with big risks. Hiring an experienced property manager will lower your risk, and often bring you a better return on investment. Read our guide for picking the right property manager below.
What Does a Property Manager Do?
When you are comparing property managers, what basic duties should you expect them to perform? If you do not know much about owning investment property, you may think there is not much to do beyond placing tenants. The truth is, property management is a full-time job. Property management duties include:
- Making the property rent ready
- Advertising your rental property
- Scheduling showings
- Screening tenants
- Preparing the lease for signing
- Scheduling vendors for maintenance issues
- Responding to tenant requests, including nights, weekends, and holidays
- Collecting rent payments
- Scheduling and performing routine property inspections
- Reporting on the state of the rental property
- Assisting with move in/move out procedures
Atlanta residential property management can also include tasks that do not happen as often, like eviction. Some property managers are not full service, meaning they only take care of certain aspects of the rental cycle. For example, you can hire a property manager to simply find a qualified tenant while you take care of the rest.
One of the most important aspects of a property manager’s job is to provide peace of mind for the property owner. A full-service property manager should have the experience necessary to provide all the services listed above. In addition, a property manager should be excellent at communicating with tenants, and quick to respond to both tenant and owner requests. When you are looking for a professional property manager, make sure you find one who offers all the services you are looking for.
What About Self-Management?
Can self-management save you money? Unfortunately, there is no straight answer to this question. At face value, it seems like you can save money doing everything yourself, but the truth is many DIY landlords actually lose money. If you want to self-manage when you rent out your home in Atlanta, there are some things you should take into consideration first.
- Do you have property management experience? Property owners without years of knowledge and experience in the local Atlanta rental market are more likely to make expensive mistakes.
- Do you know Georgia property law? If not, are you prepared to hire an attorney if legal issues arise?
- Do you know the local Atlanta rental market? Pricing your rental too high or too low leads to increased vacancy days.
- Are you prepared to work a full-time job on top of your other daily commitments? Property management takes up time, even on nights, weekends, holidays, and when you are on vacation.
- Are you skilled at home maintenance? Small maintenance tasks come up frequently, and it will save you a lot of money if you can go in and fix it yourself rather than hiring a handyman for every job.
- Are you good at communication? Clear communication with tenants leads to less turnover.
- Are you willing to give up any emotional aspect of owning a home? If you are renting out the home you used to live in it may be difficult to see someone else living there and changing things.
Atlanta residential property management is more difficult than it looks. If everything goes perfectly, then self-management can save you money. But when you own rental property, nothing goes perfectly one hundred percent of the time. When you run into difficult situations you need someone with experience to help you. An experienced Atlanta property manager will know how to save you money without putting your investment at risk.
In addition, your time and sanity are valuable. The more time you spend managing your properties. the less time you have for family, friends, other investments, and work. Hiring a property manager will take the stress out of owning rental property and give you time to focus on the things you love.
Property Manager vs Property Management Company
What is the difference between a property manager who works alone and a property management company? What type of property management should you choose when you decide to rent out your home in Atlanta? When you hire a single property manager, you always know who is at the property taking care of your home and your tenants. Oftentimes they are less expensive than hiring a property management company. However, property managers who work alone must be well versed in every aspect of the rental cycle and let’s face it, no one is perfect. So while your property manager may be an expert at getting your home rented out quickly, they also may drop the ball when it comes to responding quickly to maintenance requests.
Some Atlanta property owners decide to create their own “team” by hiring individuals with experience in different aspects of rental property ownership. They will hire an assistant to deal with day to day tasks like rent collection. They have a handyman on call for maintenance needs, plus a contractor for larger renovations. And they have an attorney for advice on legal issues. When you take into consideration each individual fee, putting together your own team of Atlanta residential property management experts does not save money. And on top of it all, these owners must spend hours on the phone contacting their team and organizing everyone together.
When you work with a property management company, like Specialized Property Management Atlanta, you will get help from experienced professionals who know every part of the rental cycle. The team at Specialized Property Management Atlanta includes experts in advertising, maintenance, tenant relations, property law, and more. In addition, when you work with a team of experts you can be certain there is always someone to pick up the call when an issue arises. Before you hire a property manager who works alone or go and create your own team of individuals, take a minute to consider the ease and peace of mind that come with working with a team of experienced professionals.
Picking the Right Atlanta Residential Property Management Company
What makes a great property management company? We have already mentioned the basic duties of a full-service property management company. But, Atlanta has many full-service property management companies so how do you know you are getting the best? We have two tips for picking the right one for your rental property.
- Look at experience: How many years has the company been around? Do they have experience managing single family rental homes? Find a company that knows the ins and outs of managing this type of investment property.
- Look at reviews: What do their current and former clients have to say about their experiences? Look at both the owner’s experiences and the tenants’ experiences. Read online reviews from reputable sites like the Better Business Bureau. Some review websites, including Yelp, have been discredited because of the prevalence of fake reviews. To learn how to read reviews for property management companies visit this page.
When you schedule a consultation with a property management company, bring a checklist of questions such as, how many years have you worked in Atlanta, and what type of properties do you manage most often. If you are concerned about a certain aspect of property management don’t be afraid to ask a potential property manager how they will handle it.
Choose Specialized Property Management Atlanta to Rent Out Your Home In Atlanta
Why do so many property owners and tenants choose to work with Specialized Property Management Atlanta? Our team of experienced professionals are leaders in the business with almost 30 years of experience. We offer a full range of property management services and have property managers available 24/7 for you and your tenants. We offer several services that set us apart from the competition, including an owner portal where you can see reports on your property, and a tenant portal where tenants can easily pay rent and submit maintenance requests. Read what several recent reviewers had to say about their experience with our Specialized team:
“Thanks for the good customer service, very informative and always willing to listen and answer any questions via email or phone call. Very pleased with the process” Jenny B.
“…The specialist at Specialized Property Management made the viewing of the property easy, the lease agreement was transparent and the move-in process was stress free. I would definitely recommend this 5 STAR property management team to anyone looking to rent or thinking about renting out their home.” Michael F.
“Specialized Property Management has a very synergetic process for servicing their customers. I had questions about the process of finding a tenant for my property. There was always a person I could turn to provide me with information about where we were at in the process.” Wayland W.
Atlanta residential property management is easier with our trusted professionals and proven processes. To learn more about our full range of property management services visit our services page here. Schedule your professional rental quote by calling 404-596-8454.